LPL Financial LLC Grows Stock Holdings in AutoNation, Inc. (NYSE:AN)

Key Points

• LPL Financial LLC increased its stake in AutoNation, Inc. by 23.7% in the first quarter, now owning approximately 28,554 shares valued at $4.62 million.
• AutoNation reported $5.46 earnings per share for the last quarter, surpassing analysts' expectations of $4.70 and showing a 7.6% increase in quarterly revenue year-over-year.
• Analysts have mostly rated AutoNation positively, with three hold ratings, five buy ratings, and two strong buy ratings, leading to an average target price of $220.75.

LPL Financial LLC raised its position in shares of AutoNation, Inc. (NYSE:AN - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,554 shares of the company's stock after buying an additional 5,462 shares during the period. LPL Financial LLC owned about 0.08% of AutoNation worth $4,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AN. Bank of Montreal Can boosted its position in shares of AutoNation by 9.4% during the fourth quarter. Bank of Montreal Can now owns 5,867 shares of the company's stock worth $996,000 after buying an additional 506 shares during the period. Raymond James Financial Inc. purchased a new position in AutoNation in the fourth quarter valued at $7,836,000. Treasurer of the State of North Carolina boosted its holdings in AutoNation by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 11,171 shares of the company's stock valued at $1,897,000 after purchasing an additional 70 shares during the period. Sterling Capital Management LLC boosted its holdings in AutoNation by 55.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,524 shares of the company's stock valued at $259,000 after purchasing an additional 542 shares during the period. Finally, Barclays PLC boosted its holdings in AutoNation by 14.7% in the fourth quarter. Barclays PLC now owns 50,433 shares of the company's stock valued at $8,567,000 after purchasing an additional 6,446 shares during the period. 94.62% of the stock is currently owned by hedge funds and other institutional investors.

AutoNation Stock Up 3.1%

AutoNation stock opened at $211.73 on Thursday. AutoNation, Inc. has a 1-year low of $148.33 and a 1-year high of $217.40. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.81 and a quick ratio of 0.21. The stock has a market cap of $7.98 billion, a PE ratio of 13.27, a P/E/G ratio of 1.02 and a beta of 0.89. The stock's fifty day moving average is $199.47 and its two-hundred day moving average is $184.64.

AutoNation (NYSE:AN - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The company reported $5.46 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.76. AutoNation had a return on equity of 31.12% and a net margin of 2.31%. The company had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same period last year, the firm earned $3.99 earnings per share. AutoNation's quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AN. Guggenheim decreased their target price on AutoNation from $230.00 to $228.00 and set a "buy" rating for the company in a report on Monday. Citigroup upgraded AutoNation to a "strong-buy" rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their target price on AutoNation from $209.00 to $221.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Stephens lifted their target price on AutoNation from $190.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Cfra Research upgraded AutoNation to a "strong-buy" rating in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $220.75.

AutoNation Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.

Want to see what other hedge funds are holding AN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoNation, Inc. (NYSE:AN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.